RE:Battery factory in Quebec for Lion Électrique?Hey Montreal1010 see below for your translation using Google, This is great for CRE I do believe maybe we can get some free land in St Jerome also to build next door to the new Lion Battery Plant with our 2nd Phase Lithium Hydroxide Concentrator to supply battery grade material, I am also waiting for a potential annoucement on maybe a interest free loan for a little equity in return from the Quebec Government from their Green Fund of course as soon as we receive Permit approval from the Government. (provincial & federal)
The Stars are aligning be patience all CRE Longs..
Premier of Quebec and Premier of Canada to meet to announce funding for electric battery factory.
For the first time in more than a year, Franois Legault and Justin Trudeau will meet in person on Monday to jointly announce the financing of a battery plant project from the Quebec builder of electric urban buses and trucks Lion, has learned The Press. This is a total investment of around $ 180 million.
The Prime Minister of Canada and his counterpart from Quebec will come together in an exceptional way. Their most recent meeting dates back to 2019, months before the pandemic. Of course, they have had regular virtual conversations with premiers of other provinces since the onset of the health crisis.
The announcement will take place at the Palais des congrs de Montral - one of the only places, along with the auditorium of the Bibliothque et Archives nationales du Qubec, where Public Health allows government announcements in this red zone. The Palais des congrs is also used for the vaccination campaign in the metropolis, but MM. Legault and Trudeau will find themselves in a secluded area that is not occupied by Public Health.
The financial package of the project which will be announced is complex. Basically, Ottawa will provide assistance in the form of grants, while Quebec's contribution will be a “forgivable loan”. Forgiveness will be tied to the creation of jobs by Lion.
The forgivable loan granted to Lion will therefore be different from the one just granted to Alstom by the Legault government. Alstom obtained a loan which does not have to be repaid if a number of jobs at the plant are maintained for a certain number of years.
Lion revealed last fall that she planned to build a battery factory in the very near future, a project valued at nearly $ 200 million. Funding for the project was yet to be determined, and the location of the plant had yet to be confirmed.
Batteries made in Saint-Jrme?
The City of Saint-Jrme agreed in November to an agreement in principle according to which a 25-year long lease on land of over 450,000 sq. Ft. Would be ceded to Lion. This agreement was, however, conditional on obtaining the necessary financing by the company to carry out its project. We then pointed to the federal and provincial governments.
In exchange for the right to enjoy this land free of charge for 25 years, and a five-year property tax holiday, Lion agrees to build a factory of at least 150,000 sq. Ft., With 35-foot ceilings and of parking lots. She will have an option to purchase the land from the 10th year.
The land in question is located in an industrial zone, rue De Martigny Ouest, near the intersection with the Laurentian highway.
No further information could be obtained from Lion executives surrounding Monday's announcement.
Lion currently operates a battery production line at its vehicle assembly plant in Saint-Jrme. However, these batteries are produced with the help of a third party.
Lion is also due to announce the location of a vehicle assembly plant in the United States in the near future. The current Saint-Jrme plant has a production capacity of 2,500 vehicles per year.
The plan to list Lion's shares on the New York Stock Exchange also continues to progress. The start of trading under the symbol "LEV" is still expected in the coming weeks. Lion's leap to Wall Street comes through a merger with Northern Genesis, a special purpose acquisition company whose shares are already listed in New York under the symbol "NGA."
Beyond the Lion project, there is no lack of subjects to fuel the discussion between MM. Trudeau and Legault, whose relations are not very good. There have been periodic skirmishes between the two leaders in recent months.
Other issues
Franois Legault rants against Ottawa’s desire to establish national standards for long-term residential centers, for example. He had publicly expressed his impatience with the delivery dates of vaccine doses, while Mr. Trudeau had criticized the provinces for not administering them quickly enough. That's not to mention the "bickering" around imposing a quarantine on returning travelers.
At the top of Franois Legault's list of priorities in his relations with Ottawa is an increase in health transfers. Quebec is asking for $ 6.2 billion more per year, in order to reduce the federal government's share in funding spending in this sector from 22% to 35%. All the provinces are demanding a total increase of $ 28 billion.
This issue is crucial for the Legault government, whose budget will be tabled on March 25 - we do not yet know the date of the federal budget, while the possibility of the upcoming call for general elections looms. Quebec Finance Minister Eric Girard has already recognized that an additional federal contribution is essential to get out of the budget hole within five years. Otherwise, it would be necessary, among other things, to cut spending, he warned. The fact remains that Ottawa itself is in deficit.
Federal money has nevertheless served the Legault government well since the start of the pandemic. While Quebec's own-source revenues (mainly taxes and levies) fell 6.9% - or $ 4 billion - from April to November compared to the same period last year, transfers of all kinds from Ottawa jumped 18.6% - or $ 3 billion - with the string of announcements made by Justin Trudeau in recent months.
GO CRE GO